Jerusalem (05/02/2008) - Jeddah Economic Forum announced the participation of PalTel Group besides other well-known Saudi companies, in sponsoring the Forum in 2008. The Forum is held under the auspices of Prince Khalid Faisal Bin Abdul Aziz, prince of Mecca.

Jeddah Economic Forum is considered one of the most important forums in the Arab World. It aims at fostering economic partnerships and alliances in the Arab World. Moreover, the Forum is a major meeting point for all Arab and Saudi economic businesses and firms with a view to translate efforts into practices.

The Forum focuses on implementing agreements between participating businesses and firms in order to arrive at a harmonized set of economic activities.

The Forum adopts "Growing Wealth through Partnerships and Alliances", as a slogan. Dr.Salam Fayyad, the Prime Minster, and a government delegation will participate in the Forum, together with a PalTel business delegation and other Palestinian businessmen.

Dr. Abdul Malek Al-Jaber, Chief Executive Office at PalTel Group, said “it is of a great importance for us that PalTel Group Participate in such Arab and international economic gatherings. We will work to establish an Arab Regional Network that will facilitate exchange of information and experience, and grow investments that will promote the economic conditions in the country”. Dr. Al- Jaber added “we will consider the Forum a good chance to discuss matters that concern our people, such as opening channels with the Saudi private sector and the Gulf, as well as the Arab World”.

Dr. Al-Jaber explained the image the Saudis and Arabs have is associated with the political dimension, which has lately been associated with the domestic, political disputes and disunity among Palestinians. 

Dr. Al-Jaber said “ remarkable efforts were made by the Palestinian President Abu Mazen through his frequent visits to Saudi Arabia to reflect the bright image of the Palestinians and Palestinian forces were deemed blessed and very important”. Furthermore, Dr. Al-Jaber clarified that “PalTel Group sponsering Jeddah  Forum complements the efforts of the Palestinian President and the Palestinian leaderships, where the lively image of Palestinians is emphasized”
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“Arab investors feel worried about investing in Palestine, we encourage them to take this step and  positively consider investing in the region”. Dr. Al- Jaber said.

Dr. Al-Jaber mentioned the fact that PM, Dr. Salam Fayyad, will be heading a government delegation to participate in the Forum and present the reform plan (tripartite reform and economical development plan). The PM will surmount the obstacles facing the investors and pave the way for the Arab private and local sectors to start building and development, and reassured Arab investors over personal security and safety.

For investing in Palestine, Dr. Al- Jaber said “PalTel is a clear example for investors worldwide. It invested in Palestine as a response to the elaborated policies that overcame all difficulties and transformed problems into achievements. PalTel Group presents good evidence on the success of investment in Palestine”.

Dr. Al- Jaber added, "We try through these economic forums and gatherings to bring out the other face of Palestine, the face overlooked by many." Dr. Al-Jaber also pointed out to the creative projects that reflect our real image as people enduring occupation”. Dr. Al-Jaber said “We reflected our image by launching a number of initiatives such as “Palestine International Award for Excellence and Creativity” which brought into view many Palestinian skills in addition to many magnificent projects launched by PalTel Group such as “PC Fund”, “PICTI (Palestine Information & Communications Technology Incubator)”, “Student Loan Fund” and “Education and participation initiative” to establish many companies needed by the Palestinian market. These initiatives would be advantageous to the economy and would create employment opportunities for the Palestinians such as “WASSEL” Company and “Al- Rafah Microfinance Bank”.

“The Social Responsibility Fund supports all Palestinian segmentations over the past years in the fields of education, health, sports and environment. PalTel Group total contribution in the gross domestic product (GDP) reached 12%” Dr. Al-Jaber said.

Dr. Al- Jaber added “PalTel Group participation, as a leading Palestinian company, was a surprise to some people; this situation is similar to when PalTel listed its shares in Abu Dhabi Securities Market. Such actions and activities challenge the typical image held by Arabs and foreigners, which is associated with food subsidies and aid”.

President of Jeddah Economical Forum, Sami Bahrawi said “the present session witnesses a major transformation at the level of sponsors, who are mainly elite companies, and national and international economical groups”.

Mr. Bahrawi indicated that the global renown enjoyed by the forum over the past few years with the participation of top politicians, economists and decision-makers motivated many companies and groups to participate as official sponsors as a recognition to the importance of the agenda of the local, regional and international businessmen, investors and economic strategists, which was established in the present session, and their keenness to attend to intensify their knowledge and expand their work.

Mr. Bahrawi indicated that the participation of the top politicians, economists, and society stars in the forum previous sessions such as the former U.S. President Bell Clinton, Prince Charles of Britain, Queen Rania Al-Abdullah, and hundreds of officials, guests and experts motivated the big economical companies and groups to sponsor the forum activities to closely stand on the interest of the international attendance to know the sponsoring companies projects.

“The sponsors are key partners in the success of the forum to become the most important economical event in the area and the world, and that their sponsorship to the present session will enable the organizers to achieve the goals and aspirations, and to reflect the big development in the Saudi economy and its strong impact on its perimeter” Mr. Bahrawi added.